Reinsurance revenue and margins grow at Willis Towers Watson

The Investment, Risk & Reinsurance (IRR) segment of Willis Towers Watson (WTW) saw revenue rise to $325 million in the three months to September, an increase of 2 percent, and 5 percent in constant currency terms, from $317 million in the prior-year third quarter.

WTW said that on an organic basis, all lines of business contributed to the growth. Reinsurance, wholesale, and underwriting and capital Management growth was driven by net new business growth and favourable renewal factors, while insurance consulting and technology revenue grew from strong technology sales.

The IRR segment had an operating margin of 9.3%, as compared to 9.1% for the prior-year third quarter.

WTW said: “We continue to see a modest improvement with (insurance) pricing in the market.”

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